Managing the cost of Table Top items
This week I want to share with you some effective strategies that will help you manage your Table top expenses.
Table top items typically are budgeted at .5 (1/2) percent of your total revenues. The key to managing these costs is not to spend those dollars unless you absolutely need to. In an account that has Managed volume of 1,000,000 the budget would reflect $5000 for China, Glass and Silverware.
To manage this cost to a minimum follow the attached strategies
· Inventory all China, Glass and Silver in your /community
· Once inventoried, determine a “par list” of what you will maintain in inventory
· Take quarterly inventories of all Table Top items
· Place a $$$ value on each item based on replacement costs
· Par level should be set at 1.5 your service level census
· Always keep items above par out of service until absolutely necessary
· Take pictures of each Table Top item that you replace and assign the cost associated with that item, this helps staff understand the cost of breakage
· Monitor and track breakage/loss weekly
· Initiate a breakage tracking sheet to be filled out each time you have breakage. Post for all staff to see
· Monitor monthly costs and share improvements month over month with your TEAM
· Reward the TEAM with a pizza party or something similar if the monthly totals improve from the prior months
· Create a silverware drop station that is not near the plate scraping trash receptacle, you will be surprised how much silverware ends up in the trash receptacle nightly
Every $$$ saved from reducing costs will fall to the bottom line realizing a financial performance improvement